By Esther Wodulo
The third general meeting of the Academy for Women Entrepreneurs (AWE) Investment Club and SACCO gave me a reminder that savings alone are not enough and that the exciting truth is that prosperity lies in transforming savings into productive investments.
Across Uganda, collective financial platforms such as SACCOs (Savings and Credit Cooperative Organisations) and Investment Clubs have increasingly become engines of economic empowerment and shared growth.
Growing culture of collective finance
For SACCOs, it is now a widely common and practiced phenomenal due to Emyooga and the gospel being spread by the Microfinance Support Center. Investment clubs are what our mothers in the village called Nigina, and to some who know the Bagaga Kwagalana, Tuko Club among others, where members mobilise themselves for a goal to invest their money and multiply.
Recent evidence shows that SACCOs play a critical role in financial inclusion, especially in underserved communities where up to 90 per cent of people remain excluded from formal banking systems. By pooling resources, members gain access to affordable credit, build assets and invest in income generating opportunities.
It is right to assert that the growth of SACCOs in Uganda is not theoretical institutions. Parliamentary SACCO recorded a 14 per cent growth in 2023-2024, and the Uganda People’s Defense Forces (UPDF) Wazalendo recorded a growth of over 338 per cent in 2025. This demonstrates the tangible benefits of collective financial action.
Investment clubs further extend their impact by shifting focus from savings to wealth creation. Structured savings groups now benefit from tailored financial products, training and mentorship to enhance their ability to invest strategically and sustainably. According to the World Bank Report, Uganda Economic Update 2025, this evolution is crucial in a growing economy like ours, where GDP growth reached over 6 per cent in 2024/2025, driven in part by increased domestic investment.
Turning savings into sustainable investments
From such reflections, several strategies emerge:
- Members must embrace disciplined saving as the foundation for investment.
- SACCOs and clubs should diversify beyond lending into ventures such as agriculture, real estate and small enterprises.
- Continuous financial literacy and mentorship are essential to guide informed decision making.
- Strong governance and accountability within groups to ensure sustainability and trust.
Joining an investment club or SACCO is therefore not merely a financial decision, it is a pathway to economic freedom. It enables members to move from survival to stability, and ultimately to prosperity. As we look ahead, collective growth remains our strongest pillar for building resilient communities and unlocking shared wealth for generations to come.
The Writer is the Membership Relations Officer at the UN Staff SACCO.
